Tuesday markets
Today has been a green day for the CME futures boards, but cash trading continues to be light.
Live cattle contracts were all up: August gained $1.05 to $104.65, October $1.15 to $108.30, and December 30 cents to $111.68. Feeder cattle contracts also saw growth: August up 93 cents to $144.50, September $1.23 to $146.63, and October $1.05 to $147.63. The latest known CME Feeder Cattle Index was $142.61.
Negotiated cash trading has been limited on light demand in Kansas, Nebraska, and the western Corn Belt. A few live purchases moved in Kansas at $103 and in the western Corn Belt at $105. Cash trade has been at a standstill in Texas and Colorado.
Slaughter for the day is expected to be about 117,000 head, up 1,000 head from last week. We are still a couple thousand head behind slaughter for the week compared to last year. However, a year ago this week, the industry was battling with the reduced processing capacity as a result of the Holcomb, KS, Tyson fire.
Today’s cutout was slightly higher: The Choice cutout gained 88 cents to $208.08 and Select gained $1.09 to $195.02 on 156 loads.
Oklahoma National Stockyards in Oklahoma City, OK, reported 8,386 receipts. Compared to last week, feeder steers were steady to $3 lower and steer calves steady to $3 higher. Feeder heifers were mostly steady to $2 lower and heifer calves were unevenly steady. Demand was moderate to good.
Sioux Falls Regional Cattle Auction reported 2,357 receipts. Compared to last week, feeder steers were $4-7 higher, and in some instances, $10 higher. Feeder heifers were $5-10 higher. Demand was very good. — Anna Miller, WLJ editor
